With the changing security and energy environment in the region, the independent operator ICGB is actively looking into opportunities to expand the project in correspondence with the market’s evolving needs, ICGB executive officer Teodora Georgieva told Report.
“IGB currently operates at a total capacity of 3 bcm/y, auctioning available capacity on two booking platforms – PRISMA and RBP. The interconnector provides for about half of Bulgaria’s internal consumption, and enables deliveries from new, diversified sources to other countries in the region – such as Moldova and Ukraine,” she said.
Georgieva noted that ICGB has initiated an incremental capacity process and, in coordination with adjacent TSOs (transmission system operators), has already carried out the non-binding phase of the process to explore the market’s interest in boosting the pipeline’s capacity to reach 5 bcm/y: “With strong and positive indications from the non-binding phase, ICGB continues with its work on the next steps of the process. The binding phase - when energy traders and shippers could commit to booking capacity – is planned for July 2024. In the meantime, the company is working on assessing the potential investment – a decision that will be made by the shareholders BEH and IGI Poseidon.”
According to her, upon taking a final decision to proceed with the expansion, ICGB is to select a contractor for the engineering phase, consultants to work on the detailed design for all modifications needed for the current infrastructure, and finally proceed with procurement and construction.
“Regarding improved connectivity of energy infrastructure in the wider region, ICGB is an active advocate for even closer cooperation with other TSOs and countries in the Western Balkans, Southeastern and Central Europe to ensure safe delivery routes and diversified sources for improved energy independence. ICGB strongly supports expanding the Vertical Gas Corridor initiative to also include TSOs from Moldova and Ukraine, in stronger support for those countries,” the executive officer said.
